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At December 31, before adjusting and closing the accounts had occurred, the Allowance for Doubtful Accounts of Seaboard Corporation showed a debit balance of $3,200. An aging of the accounts receivable indicated the amount probably uncollectible to be $2,100. Under these circumstances, a year-end adjusting entry for uncollectible accounts expense would include a:     A.  Debit to Uncollectible Accounts Expense of $5,300.  B.  Debit to the Allowance for Doubtful Accounts for $1,100.    C.  Debit to Uncollectible Accounts Expense of $2,100.    D.  Credit to the Allowance for Doubtful Accounts for $1,100.

At December 31, before adjusting and closing the accounts had occurred, the Allowance for Doubtful Accounts of Seaboard Corporation showed a debit balance of $3,200. An aging of the accounts receivable indicated the amount probably uncollectible to be $2,100. Under these circumstances, a year-end adjusting entry for uncollectible accounts expense would include a:     A.  Debit to Uncollectible Accounts Expense of $5,300.  B.  Debit to the Allowance for Doubtful Accounts for $1,100.    C.  Debit to Uncollectible Accounts Expense of $2,100.    D.  Credit to the Allowance for Doubtful Accounts for $1,100.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At December 31, before adjusting and closing the accounts had occurred, the Allowance for Doubtful Accounts of Seaboard Corporation showed a debit balance of $3,200. An aging of the accounts receivable indicated the amount probably uncollectible to be $2,100. Under these circumstances, a year-end adjusting entry for uncollectible accounts expense would include a: 

 
  •  A. 

    Debit to Uncollectible Accounts Expense of $5,300.

  •  B. 

    Debit to the Allowance for Doubtful Accounts for $1,100.
     

  •  C. 

    Debit to Uncollectible Accounts Expense of $2,100.
     

  •  D. 

    Credit to the Allowance for Doubtful Accounts for $1,100.
     

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